Jeff Jandro - how a DAF works for him.
- Faribault Foundation
- Mar 20
- 3 min read
By: Laura Bock
I know a guy – you might know him too. He is a hard-working guy with deep callouses on his hands from years of hard work. He drives an older van and takes very few vacations. He helps out his neighbors, nieces, and nephews when he can, and he takes care of his aging mother.
This guy knows the working end of just about any construction equipment and is not shy about getting his hands dirty.
Over the years he has saved and earned and grown his small business into a successful enterprise. As retirement age began to loom, he started to think about selling his business. Somehow that business sale will change things for him. He’ll have the proceeds from the sale of his business to manage.
What is the next step?
For our friend – Jeff Jandro, the next step was research. Jeff took his time learning about foundations and donor advised funds. He met with financial advisors and accountants, bankers and lawyers and began to understand his options.
He realized that a donor advised fund in a community foundation met his needs and multiplied the impact he would have with his philanthropic dollars. He called it a WIN WIN!
Jeff learned that a Donor Advised Fund (DAF) has flexibility. As the donor, he can use his DAF like a charitable checkbook, with very few restrictions beyond the legal guidelines set by the IRS. He can give to his church, or nonprofits or schools as he chooses, whenever he wants. He can endow his DAF and his generosity with last forever – really – forever!
Jeff was able to open a substantial DAF following the sale of his business, which helped him reduce his tax obligation and set him up to use his DAF to donate to organizations he wants to support.
Using the Faribault Foundation makes it easy. Jeff said it would take weeks to process a distribution to a charity from a DAF at one of the big-name foundations, but with the local foundation managing the details it can be done in days. He has the comfort of knowing personally the people investing the funds and safeguarding his DAF.
Not only that, but the small fees collected by the foundation from his DAF help support the ongoing work of the Faribault Foundation to build community philanthropy and improve the quality of life in Faribault. That is the “WIN WIN” Jeff is talking about.
Jeff shared some words of wisdom with us recently. He said, “We are the stewards of all we have been entrusted with from God. We have a great responsibility to be good stewards of our talents and our treasure. I wake up every morning with praise, knowing I am highly blessed and favored of the Lord!”
Jeff believes the work is never done. There are always more ways to serve. He told us, “My purpose has shifted. Now my mission is to help others see how love and generosity can be rekindled. I want to help people feel the rewards of good stewardship and giving back to their community. My hope is to open hearts of people to use their gifts for good!”
Jeff is an inspiration. He allows us to tell his story to inspire others to become community philanthropists. It is easier than you think, and it doesn’t have to be millions to have a lasting impact.
Contact me at the Faribault Foundation to find out if a DAF is right for you, or to learn how to move your existing DAF to the Faribault Foundation. If you would like, I will ask Jeff to join us for our first confidential conversation. He would be happy to meet with you.
Laura Bock -
Faribault Foundation Executive Director
507-805-8800
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